3D Investment Partners Comments on Results of Toshiba Corporation Annual General Meeting
Rhea-AI Summary
3D Investment Partners, a major shareholder of Toshiba (6502.T), expressed optimism following the Annual General Meeting held on June 25, 2021. 3D stated that the changes made to the Board could usher in a new era focused on long-term shareholder value and improved transparency. Since investing in Toshiba in 2016, 3D plans to support the company as it aims for value creation and trust-building with all stakeholders. 3D continues to believe in Toshiba's potential for future success.
Positive
- 3D Investment Partners expresses optimism about Toshiba's new Board changes.
- 3D has committed to supporting Toshiba in its long-term value creation efforts.
- There is an expectation for improved transparency and trust with stakeholders.
Negative
- None.
News Market Reaction – TOSYY
On the day this news was published, TOSYY declined 0.64%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
3D Welcomes Board Changes and Looks Forward to Constructive Relationship
TOKYO, June 25, 2021 /PRNewswire/ -- 3D Investment Partners Pte. Ltd. (together with the funds it manages, "3D"), one of Toshiba's largest shareholders, commented on the results of the Annual General Meeting of Toshiba Corporation ("Toshiba" or the "Company") (6502.T), which was held earlier today.
3D said:
We invest in companies whose shareholders' value grows over the long term. In light of our conviction that Toshiba has tremendous opportunities to succeed for the benefit of all stakeholders, we have been a shareholder of Toshiba since we first purchased shares in 2016.
We hope that today's AGM marks the beginning of a new era at Toshiba – one that will be marked by a focus on value creation, transparency to all stakeholders and a renewed commitment to building trust with shareholders. We welcome the recent changes to the Board because we are optimistic about the future and Toshiba's potential. We want Toshiba to succeed for its employees, customers, suppliers, creditors, shareholders and the people of Japan.
We stand ready to do our best to assist the Company and look forward to a constructive, ongoing dialogue with the Board and management team. As Toshiba turns the page to a new era, 3D remains enthusiastic about Toshiba's business, technology, people and opportunities.
About 3D Investment Partners Pte.
3D Investment Partners Pte. Ltd is an independent Singapore-based Japan focused value investing fund manager founded in 2015. 3D Investment Partners Pte. Ltd. focuses on partnering with managements who share its investment philosophy of medium- to long-term value creation through compound capital growth and a common objective of achieving long-term returns.
Disclaimer
This press release is provided for informational purposes only and does not constitute an offer to purchase or sell any security or investment product, nor does it constitute professional or investment advice. This press release should not be relied on by any person for any purpose and is not, and should not be construed as investment, financial, legal, tax or other advice.
3D Investment Partners Pte. Ltd. and its affiliates ("3DIP") currently beneficially owns and/or has an economic interest in and may in the future beneficially own and/or have an economic interest in, Toshiba group securities. 3DIP intends to review its investments in the Toshiba group on a continuing basis and, depending upon various factors including, without limitation, the Toshiba group's financial position and strategic direction, the outcome of any discussions with Toshiba, overall market conditions, other investment opportunities available to 3DIP, and the availability of Toshiba group securities at prices that would make the purchase or sale of Toshiba group securities desirable, 3DIP may, from time to time (in the open market or in private transactions), buy, sell, cover, hedge, or otherwise change the form or substance of any of its investments (including Toshiba securities) to any degree in any manner permitted by any applicable law, and expressly disclaims any obligation to notify others of any such changes.
No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness, or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the securities, markets, or developments referred to herein. 3DIP expressly disclaims any responsibility or liability for any loss howsoever arising from any use of, or reliance on, this press release or its contents as a whole or in part by any person, or otherwise howsoever arising in connection with this press release.
3DIP disclaims any intention or agreement to be treated as a joint holder (kyodo hoyu sha) under the Financial Instruments and Exchange Act of Japan, a closely related party (missetsu kankei sha) under the Foreign Exchange and Foreign Trade Act with other shareholders, or receiving any power to represent other shareholders in relation to the exercise of their voting rights by virtue of its act to express its views, estimates, and opinions or otherwise to engage in dialogue with other shareholders through this press release.
This press release may include content or quotes from news coverage or other third party sources ("Third Party Materials"). Permission to quote from Third Party Materials in this press release may neither have been sought nor obtained. The content of the Third Party Materials has not been independently verified by 3DIP and does not necessarily represent the views of 3DIP. The authors and/or publishers of the Third Party Materials are independent of, and may have different views to 3DIP. The quoting Third Party Materials on this press release does not imply that 3DIP endorses or concurs with any part of the content of the Third Party Materials or that any of the authors or publishers of the Third Party Materials endorses or concurs with any views which have been expressed by 3DIP on the relevant subject matter. The Third Party Materials may not be representative of all relevant news coverage or views expressed by other third parties on the stated issues.
In respect of information that has been prepared by 3DIP (and not otherwise attributed to any other party) and which appear in the English language version of this press release, in the event of any inconsistency between the English language version and the Japanese language version of this press release, the meaning of the English language version shall prevail unless otherwise expressly indicated.
Contacts
3D Investment Partners Pte. Ltd.
3DIPartners@3dipartners.com
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SOURCE 3D Investment Partners Pte. Ltd.
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